Talking about money with aging parents can feel uncomfortable, but it’s an essential conversation to ensure financial security for both them and you. Here are three effective ways to start the discussion.

Segue from a Broader Topic

One way to ease into the conversation is by connecting it to a larger financial issue. Discussing market trends or rising healthcare costs can create a natural opening. For instance, asking, “Have you been following what’s going on in the financial markets?” or “I’ve been reading a lot about healthcare costs—what’s been your experience?” can lead to deeper discussions about their own financial planning.

Ask About Their Financial Advisor

A more direct yet non-intrusive approach is inquiring about their financial advisor. You can mention your own experience and ask, “I’ve been meaning to ask—how do you like your financial advisor?” or “What has your advisor been telling you lately?” This keeps the focus on their experiences while subtly encouraging transparency.

Blame It on Your Financial Advisor

If the topic feels too personal, you can use your financial advisor as a reason for bringing it up. Saying something like, “My financial advisor suggested that families should discuss their financial plans. Would you be open to going over the basics together?” shifts the focus away from any personal concerns and makes it a more neutral discussion.

By approaching the conversation with empathy and a collaborative mindset, you can help ensure a smoother financial future for your parents and your family.

If you’d like guidance on how to navigate these conversations or want help developing a plan for your family’s financial future, we’re here to help. Don’t hesitate to reach out to us—we’re happy to offer support and advice every step of the way.

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